#theodore levitt

[fallensapphires]

History: Kodak cameras

Kodak sells film, but they don't advertise film; they advertise memories.

[andrewfons]

Marketing Myopia

My favorite case from business school was written by a professor named Theodore Levitt. Ted grew up in a house of academics in Nazi Germany and later fled to the states given his Jewish descent. In the US he became a preeminent thought leader in marketing and innovation while teaching at Harvard Business School.

In 1983, Theodore Levitt proposed a definition for corporate purpose: Rather than merely making money, it is to create and keep a customer. As we build products we need to consider the customer benefit, not just the business gain.

From Marketing Myopia (1960)

“Every major industry was once a growth industry. But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline. Others that are thought of as seasoned growth industries have actually stopped growing. In every case, the reason growth is threatened, slowed, or stopped is not because the market is saturated. It is because there has been a failure of management….

The railroads did not stop growing because the need for passenger and freight transportation declined. That grew. The railroads are in trouble today not because that need was filled by others (cars, trucks, airplanes, and even telephones) but because it was not filled by the railroads themselves. They let others take customers away from them because they assumed themselves to be in the railroad business rather than in the transportation business. The reason they defined their industry incorrectly was that they were railroad oriented instead of transportation oriented; they were product oriented instead of customer oriented….”

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[editionetoile]

Theodore Levitt

“Creativity is thinking up new things.

Innovation is doing new things.”

Painting by Victor Bregeda

Modification by Laurent Guidali

Www.Etoile.App

[preacherman316]

Word of the Week: Wisdom

Word of the Week: Wisdom

“Out of the mouth of babes,” is a proverbial and biblical idiom we use to express the unique and sometimes humorous wisdom of children. Here are a few that have made the rounds for years by an unnamed author and source. Patrick age 10: “Never trust a dog to watch your food.” Michael age 14: “When your dad is mad and asks you, “Do I look stupid?” don’t answer him.” (more…)

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[dryeyestodeathbook]

Creativity is thinking up new things. Innovation is doing new things.” - Theodore Levitt https://en.wikipedia.org/wiki/Theodore_Levitt https://www.theverge.com/.../hyundai-e4u-personal...

[imgingernow]

The best way for a firm to be lucky is to make its own luck.

Theodore Levitt “Marketing Myopia”

[imgingernow]

If thinking is an intellectual response to a problem, then the absence of a problem leads to the absence of thinking. If your product has an automatically expanding market, then you will not give much thought to how to expand it.

Theodore Levitt “Marketing Myopia”

[adam-smith-blog1]

People don't want quarter-inch drills.  People want quarter-inch holes.

Theodore Levitt

Its important to find the root of the problem before you try to create a solution.